Consumers saved $7.3 billion in 2009 by using a credit union instead of a bank—a savings of about $80 per credit union member according to the Credit Union National Association and state credit union leagues. The savings came in the form of lower fees, higher savings rates, and lower loan rates associated with credit union membership.
If saving money isn't reason enough to join FIGFCU, consider the Credit Union's financial stability. The FDIC, the institution that insures bank deposits, has a balance of about -0.4% of insured deposits, while the NCUSIF, the insurer of credit union deposits, has a balance of about 1.2% of insured members' shares credit union industry-wide. What does this mean? Simply put, credit unions are more financially sound right now than banks.
Information provided by www.figfcu.com
